Property Overview
This well-situated East Elmwood home presents a compelling opportunity. Built in 1955, it's a one-storey house with a detached garage, featuring 1,444 sqft of living space on a notably generous 5,170 sqft lot. Recent data shows it sold for $31.5k in September 2024, with an assessed value of $24.1k. Its standout characteristic is its relative size and land footprint within its immediate area, ranking in the top tiers for both living area and lot size on its street.
Key Characteristics & Appeal
The primary appeal of this property lies in its space. For the neighbourhood, it offers above-average interior square footage and a lot size that ranks in the top 6% on Chalmers Avenue E itself. This combination suggests room for comfortable living and potential outdoor use or expansion relative to nearby homes. The detached garage adds practical utility. Its year of construction is also newer than many peers on the street, which may imply updates or a different layout vintage.
This home would suit a value-conscious buyer looking for a solid footprint in East Elmwood, prioritizing interior and yard space over a newer build or a central-city location. It’s a pragmatic choice for someone who sees potential in the existing structure and lot, possibly as a long-term home with room to personalize. The sale price, notably higher than the assessed value, indicates a market premium was recently paid for these specific attributes.
Frequently Asked Questions
1. Why is the sale price higher than the assessed value?
Assessed value is for municipal tax purposes and can lag behind current market conditions. The higher sale price likely reflects what buyers were recently willing to pay for this home's specific combination of above-average living space and lot size in the area.
2. What does "Top X%" ranking mean for key features?
These rankings compare this home against specific groups: others on the same street, in East Elmwood, and city-wide. For example, ranking in the "Top 6%" for lot size on its street means 94% of comparable homes on Chalmers Avenue E have smaller lots. It highlights this property's relative strengths within its most immediate context.
3. What are the implications of a 1955 build?
Homes from this era often feature solid construction but may require updates to mechanical systems (like plumbing or electrical), insulation, or windows. It's newer than many neighbouring houses, which could be an advantage, but a thorough inspection is always recommended.
4. How does this property fit within the broader Winnipeg market?
City-wide data shows its living area and lot size are around the Winnipeg average, while its assessed value is below average. This suggests it offers a relatively good amount of space for its price point when viewed across the entire city, though it's in a neighbourhood with generally lower property values.
5. What is the neighbourhood of East Elmwood like?
East Elmwood is a established, residential neighbourhood in Winnipeg. It typically offers more affordable entry points into the housing market compared to city-wide averages, with a mix of post-war and older homes, and is characterized by its proximity to the Red River and local community amenities.